Currently, GBP/USD is trading at 1.3102. The price has formed a head and shoulders pattern. The pair may start a new down trend if it breaks the support level and neck line at 1.3011, likely It is possible that the pair may rebound back after touching support levels. If the pair starts a new down trend after breaking the support level and neck line, then its first target price will be at 1.2844 and second target price will be at 1.2740.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat